Acron signed an Investment Protection Agreement

The Ministry of Economic Development of Russia, the Government of the Novgorod region, and Acron Group signed an Investment Protection and Promotion Agreement for the construction of the Ammonia and Carbamide complex.

The project includes the creation of a new production facility with a capacity of 1.6 million tons of carbamide and 300 thousand tons of ammonia per year at the site of the Acron plant (the city of Veliky Novgorod). Total investments amount to 106 billion rubles (approximately $1.41 billion).

“The complex may become the largest ammonia and carbamide production facility in Europe,” said Alexander Popov, Chairman of the Board of Directors of Acron Group.

The first Investment Protection and Promotion Agreement was concluded by PhosAgro, then EuroChem.